Unemployed “Starting New Businesses”

This year has been a pretty mixed bag for me. I’ve had a few very good sales and quite a few run of the mill sales. When all is said and done, I expect to surpass last year’s sales numbers. All in all, I most definitely will not complain about a bad year, especially given my expectations in March and April.

One of things I have been seeing and reading about is that domain name registrars have been doing very well. It seems like domain name registrations are growing at a strong clip. In addition to the growth in domain name registrations, I have also seen and heard that premium domain names in the four figure price range (plus or minus) have also been selling quite well this year.

As one might imagine, people seem to be more willing to go out and start a business. President Donald Trump’s economic advisor Larry Kudlow, who serves as Director of the United States National Economic Council, mentioned this today:

White House's Larry Kudlow today with a line new to me: "The talk is that a lot of folks who became unemployed, most regrettably, they're sticking with it & going out and starting new businesses. … That's the great part of American capitalism — gales of creative destruction"

— Jeff Stein (@JStein_WaPo) October 16, 2020

I suspect we will continue to see people starting new businesses and buying domain names as a result. A domain name is like a piece of property in the sense that it represents an opportunity. Someone can take a domain name and turn it into something much bigger. They can build their business and build a brand on their domain name.

We are probably in a very interesting time for business growth. It will no longer be unusual for someone to work from home. People around the world have been doing that for months, and that will continue to develop. People are going to continue spending time building their own business on their own time as the world changes.

We are living in an interesting time right now. There is a lot of change happening. There is a lot of uncertainty. One of the ways people seem to be grappling with this uncertainty is to start a business to help control their destiny. A domain name plays a major role in this, and I suspect we will continue to see growth in the domain space.